AUSTRALIA's beef exporters are awaiting news on a suspected case of mad cow disease in Brazil, the world's largest supplier of beef to the global market.
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If confirmed, the case could throw into turmoil global beef dynamics, with Brazilian exports to key markets such as China and the United States likely to be halted immediately.
Brazil's agriculture ministry has announced laboratory tests were being carried out to confirm a case of Bovine Spongiform Encephalopathy.
It said based on the result, 'appropriate actions' would be applied immediately.
When Brazil confirmed two cases of atypical BSE in cows in late 2021, it voluntarily suspended shipments to China and remained out of that market for three months.
When it did return, it was with new restrictions including a requirement for slaughter animals to be less than 30 months of age and all products to be boneless - measures aimed at reducing risk associated with BSE.
Analysts at the time described the event as having profound impacts on cattle and meat prices as it created a massive void in global supply.
China - the world's largest importer of meat - is heavily reliant on Brazilian beef.
The volume power of Brazil in the US market, since they regained access back in 2020, has also been very evident and the US is another key market for Australia.
Consultant Steve Martyn this week reported Brazil has swamped the small 'Other Country' quota of 65,000 tonnes that it is supposed to share with at least five other countries.
"When that quota was full at the reduced in-quota rate of 4.4 US cents/kilogram after three months in 2022, they showed their ability to continue to ship at the out-of-quota tariff of 26.5 US cents/kg, compared to Australia's zero tariff, and still put in over 98,000 tonnes," Mr Martyn reported.